The ground floor flat in Leyton will go up for auction next week with a guide price of just £25,000 to £30,000.

It might sell for as much as £50,000, according to auction director Philip Waterfield but that would still be a bargain.

But, as always, there is a catch.

The flat only has a kitchen sink fitted (Picture: Strettons)

There is nothing inside but a kitchen sink and, more concerningly, the lease is up in just five years time.

If you wanted to renew it, it could set you back up to £290,000.

But auctioneers Strettons don’t think that will put people off.

And its lease runs out in five years time (Picture: Strettons)

Mr Waterfield added: ‘Rather than pay rent for five years a buyer may prefer to buy this flat, live in it and then assess their options in five years time as to whether they want to extend the lease or walk away.’

As a comparison, five years of rent for a one-bedroom flat in the area would set you back around £65,000 but it’s not as simple as just the rent.

The kitchen has nothing in it except the kitchen sink. You’d have to spend a few thousand pounds on an entire kitchen and, looking at the photos, the floors and the back garden need a great deal of work.

You can bid for the property on July 11 at 11am – for more info follow this link.